Electronic Cigarettes International is scheduled to begin trading on the Nasdaq Friday, moving its stock listing from the OTC Bulletin Board.
The company makes and distributes a broad line of electronic cigarettes. It plans to raise $150 million by offering 33.3 million shares at 4.50, under its current ticker ECIG.
In a press release, the Grand Rapids, Mich-based company said it is “dedicated to providing a compelling alternative for the more than 1 billion current smokers around the world.”
Still in the early stages of its market penetration, the e-cigarette industry is highly fragmented, with about 250 brands worldwide, it said.
